To put it simply, Bitcoin is a digital currency that you can use online to purchase products and services. At this moment in time though, not many online stores accept it, but there are many Bitcoin casino sites that have it as one of their main online casino payment options. Below you can find out all you need to know about this payment system.
An Overview of Bitcoin Casino
In service since 2009, the Bitcoin is a cryptocurrency widely used by online casino players to withdraw and deposit money on any casino compatible with this currency. We’ll start this reviewing this payment method by presenting the Bitcoin casino and how it can be used in online casinos.
What’s the history of the Bitcoin?
The Bitcoin website first came into existence in August 2008. The following October, Satoshi Nakatomo released a paper to the public that explained everything that people needed to know about Bitcoin. In January 2009, he released the world's very first Bitcoin software. Amazingly, to this very day, nobody knows who Nakamoto was.
Hal Finney was the very first person in the world to make a Bitcoin transaction. When the software was released, he downloaded it and got ten pieces of Bitcoin cash on the 12th January 2009. The following year, Laslo Hanyecz became the first person to make a commercial Bitcoin transaction when he spent 10,000 Bitcoins on two large pizzas.
Nakatomo was last heard of in 2010, and at the time it was estimated that he had mined (produced) about one million Bitcoins. Gavin Andresen took over as the main Bitcoin developer, but he has since moved on to other things.
Bitcoin is extremely volatile as its value can increase or decrease extremely quickly. At the end of 2017, a Bitcoin was worth $19,783.06, the highest it has ever been. When this article was written, one Bitcoin was equal to 13,411.30 New Zealand dollars.
Do You Need a Bitcoin Account?
As Bitcoin is digital money, a Bitcoin account does not exist. However, just like you do with your New Zealand dollars, you need somewhere to keep your Bitcoins. Therefore, you need a Bitcoin wallet. These are exactly like a bank account - you come here to send, receive, and manage any Bitcoins that you have.
Some of the Best Bitcoin Wallets
There are many Bitcoin wallets available, but below is a selection of some of the most well-known ones.
► List of the best Bitcoin wallets around at this moment in time:
You can download all of the above wallets very easily from the Google Play Store or the Apple Store. All you have to do is search for the one that you would like to download and follow the instructions that you would be given. We highly recommend that you do a bit of research before you make a final decision.
If you are new to Bitcoin, we would recommend BRD. If you would like to take our advice on board, this is what you have to do.
- Search for BRD on the Apple or Google Play Store
- Download it, open it up, and make a 6-digit pin. Do not forget this pin as you will need to enter it whenever you open the app
- The app will then generate 12 random words. You should store these somewhere as this is for backup security. You will then be told to enter two words. Please do not keep the 12 words on your laptop as this leaves yourself open to hackers. Write them down on some paper and put them somewhere safe from prying eyes
- Once you have completed this, you will have access to the BRD Bitcoin wallet
This is How to Deposit Bitcoin at Online Casinos
Once you have Bitcoins and a Bitcoin wallet, you can start your search for the best Bitcoin casino. When it comes to a good bitcoin casino software for those living in New Zealand, you can find a good selection at the bottom of this page. Once you have decided on the online casino that is best for you, it is time to make a deposit. How is that done? All is revealed below.
► Deposit with Bitcoin in 5 easy steps:
- Remember that you need to have a Bitcoin wallet with some Bitcoins in it before you can deposit at a Bitcoin casino
- Once you have this settled, head on over the online casino, log in, and go to their banking page
- You should then select the Bitcoin option
- You will then be given the casino's wallet address. You then have to open up your own Bitcoin wallet, enter the address, enter the amount that you would like to deposit, and authorise the transaction
- Return to the online casino and the money should be in your account within a couple of minutes
This is How to Withdraw Bitcoin at an Online Casino
In order to be able to withdraw Bitcoins, you obviously need to have won Bitcoins. If you have Bitcoins that you would like to withdraw from an online casino, you will be glad to hear that it is a very simple process.
► How to make a Bitcoin cash out:
- Log on to your online casino account and visit the banking page
- Select that you would like to make a withdrawal using the Bitcoin banking method
- Enter your wallet address and the amount that you would like to withdraw
- Confirm the transaction
When you request to withdraw Bitcoins, the transaction is usually processed right away, and you can expect to receive them within twelve hours. In the majority of cases, you will not be charged for making a Bitcoin withdrawal.
Popular Bitcoin No Deposit Bonus
Online casinos need to offer enticing Welcome Bonuses in order to get new players signing up with them. When it comes to Welcome Bonuses, no deposit bonuses are the most appreciated by players as they allow you to play at an online casino without having to deposit any money.
Some Bitcoin compatible casinos will offer you a Bitcoin no Deposit Bonus, meaning that you will be allowed a certain Bitcoin amount to play within this casino.
In short, this means that you can test out the online casino without having to tie yourself to the casino. Like with all Welcome Bonuses, there will be wagering requirements in place that you must clear before being eligible to make a withdrawal. With some online casinos, you will need to add a Bitcoin casino promo code in order to get the Bitcoin Welcome Bonus.
Bitcoin Casino Free Spins Are Offered Regularly
You will come across many bitcoin casinos that are happy to offer free spins as bonuses. When you come across a Bitcoin casino free spins no deposit offer, you should snap it up as these are the best Bitcoin casino bonus. The casino will award you a number of free spins that you can use on particular slots. You will sometimes be able to use the free spins on whatever slots you like, but this is quite rare.
Free spins are not limited to those who have just created an account with the casino. Many online casinos that accept Bitcoin will award free spins to those players who play regularly.
Bitcoin Casino New Zealand
If you are living in New Zealand and want to play at online casinos using Bitcoins, there is no shortage of options open to you. Like we mentioned earlier, at the bottom of this page you will find some of the best Bitcoin casinos for New Zealanders. You should definitely take the time to check them out.
Bitcoin Live Casino
If you enjoy playing live casino games and want to play using Bitcoins, you will be ecstatic to hear that there are a plethora of Bitcoin casinos out there that give their players the chance to play live casino games. This means that you can play against real dealers and real players from the comfort of your living room. You will often be able to find all of the popular table games such as poker, roulette, blackjack, pontoon, and craps.
Mobile Bitcoin Casino
Casinos that accept Bitcoins are more than aware that more players are using their mobile devices to play at online casinos. Therefore, they make sure that their sites are completely mobile compatible by supporting HTML5, or they create an app that players can download.
In order to play on your mobile device, you need to have Flash installed. However, since iPhones do not support Flash, if you want to play on such a device, you will need to download the app. If you are using an Android device, you can play using Google Chrome or whatever browser you like.
When you play on your mobile devices you will get the same great experience that you would get if you were playing on your desktop.